Reimbursement Obligation of the Borrowers. Each Borrower for whose account a Letter of Credit is issued agrees to reimburse the Issuing Lender no later than the Business Day immediately following the Business Day on which such Issuing Lender notifies such Borrower of the date and amount of a draft presented under any Letter of Credit and paid by such Issuing Lender for the amount of # such draft so paid and # any taxes, fees, charges or other costs or expenses incurred by such Issuing Lender in connection with such payment. Each such payment shall be made to the Issuing Lender at its address for notices referred to herein in Dollars and in immediately available funds. Interest shall be payable on any such amounts from the date on which the relevant draft is paid until payment in full # at the Base Rate until the Business Day next succeeding the date of the relevant notice and # thereafter, at the rate set forth in Section 3.1(b).

Reimbursement Obligation of the Borrowers. Each Borrower agrees to reimburse each Issuing Lender on the next Business Day after that on which such Issuing Lender notifies such Borrower of the date and amount of a draft presented under any Letter of Credit issued for the account of such Borrower and paid by such Issuing Lender for the amount of # such draft so paid in the currency of such payment and # any non-Excluded Taxes, fees, charges or other costs or expenses reasonably incurred by such Issuing Lender in connection with such payment. Each such payment shall be made to such Issuing Lender at its address for notices referred to herein in US Dollars, Euros or Canadian Dollars, as the case may be, and in immediately available funds, provided that the Borrowers may request in accordance with [Section 2.2] that such payment be financed with US Revolving Loans, Euro Revolving Loans or Canadian Revolving Loans, as applicable, in an equivalent amount and, to the extent so financed, the Borrowers’ obligation to make such payment shall be discharged and replaced by the resulting US Revolving Loans, Euro Revolving Loans or Canadian Revolving Loans. Interest shall be payable on any such amounts from the date on which the relevant draft is paid until payment in full # until the Business Day next succeeding the date of the relevant notice, # at the rate then applicable to ABR Loans in the case of US Dollar-denominated Letters of Credit issued for the account of a Non-Canadian Borrower, # at the rate then applicable to US Base Rate Loans in the case of US Dollar-denominated Letters of Credit issued for the account of any Canadian Borrower, # at the rate then applicable to Canadian Prime Rate Loans in the case of Canadian Dollar-denominated Letters of Credit and # at the rate then applicable to Foreign Base Rate Loans in the case of Euro-denominated Letters of Credit and # thereafter, at the applicable rates set forth in [Section 2.13(g)].

Reduction of Reimbursement Obligation. Emmis agrees to waive MediaCo’s obligation to reimburse Emmis under the Employee Lease, on a payroll by payroll basis, in an amount equal to the amount by which Emmis during the Measurement Period applies the Loan proceeds to payroll costs for the Leased Employees in accordance with the loan forgiveness provisions of the PPP, and agrees to continue such waiver of the reimbursement amount under the Employee Lease after the expiration of the Measurement Period, on a payroll by payroll basis, until an amount equal to the full MediaCo Allocation has been waived.

Reduction of Reimbursement Obligation. Emmis agrees to waive MediaCo’s obligation to reimburse Emmis under the Employee Lease, on a payroll by payroll basis, in an amount equal to the amount by which Emmis during the Measurement Period applies the Loan proceeds to payroll costs for the Leased Employees in accordance with the loan forgiveness provisions of the PPP, and agrees to continue such waiver of the reimbursement amount under the Employee Lease after the expiration of the Measurement Period, on a payroll by payroll basis, until an amount equal to the full MediaCo Allocation has been waived.

Reimbursement Obligations of Borrower. If either # the Lenders, or any Lender, shall make a payment to an L/C Issuer pursuant to a Support Agreement, or (y)the Lenders, or any Lender, shall honor any draw request under, and make payment in respect of, a Lender Letter of Credit, # Borrower shall reimburse such Lenders for the amount of such payment no later than 4:30 p.m. central time on the date of such payment and # Borrower shall be deemed to have immediately requested that Lenders make a Revolving Loan, which shall be an Alternate Base Rate Loan, in a principal amount equal to the amount of such payment (but solely to the extent Borrower shall have failed to directly reimburse Lenders or, with respect to supported Letters of Credit, the applicable L/C Issuer, for the amount of such payment). Borrower shall pay interest, on demand, on all amounts so paid by Lenders for each day until Borrower reimburses Lenders therefor at a rate equal to the then current interest rate applicable to Revolving Loans (which are Alternate Base Rate Loans) for such day.

Reimbursement Obligations of Borrower. If either # the Lenders, or any Lender, shall make a payment to an LCL/C Issuer pursuant to a Support Agreement, or (y)the Lenders, or any Lender, shall honor any draw request under, and make payment in respect of, a Lender Letter of Credit, # Borrower shall reimburse such Lenders for the amount of such payment no later than 4:30 p.m. central time on the date of such payment and # Borrower shall be deemed to have immediately requested that Lenders make a Revolving Loan, which shall be an Alternate Base Rate Loan, in a principal amount equal to the amount of such payment (but solely to the extent Borrower shall have failed to directly reimburse Lenders or, with respect to supported Letters of Credit, the applicable LCL/C Issuer, for the amount of such payment). Borrower shall pay interest, on demand, on all amounts so paid by Lenders for each day until Borrower reimburses Lenders therefor at a rate equal to the then current interest rate applicable to Revolving Loans (which are Alternate Base Rate Loans) for such day.

Administrative Agent: [[Organization B:Organization]], as the administrative agent under the [[Organization A:Organization]] Agreement

Certificate of the Borrower. Concurrently with the financial statements of the Borrower furnished to the Administrative Agent and to the Lenders pursuant to Sections 8.3.1 [Quarterly Financial Statements] and 8.3.2 [Annual Financial Statements], a certificate (each a “Compliance Certificate”) of the Borrower signed by the Chief Executive Officer, President or Chief Financial Officer of the Borrower, in the form of [Exhibit 8.3].3.

The Borrower is not or ceases to be a Subsidiary of the Parent.

Certificate of the Borrower. Administrative Agent shall have received # a certificate, dated as of the Amendment No. 1 Effective Date, signed by a Responsible Officer of the Borrower, in substantially the form of [Exhibit G] but modified to reflect Amendment No. 1 and the transactions contemplated hereby and # secretary certificates of the Borrower, substantially consistent with the one delivered on the Closing Date, in form and substance reasonably satisfactory to the Administrative Agent.